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Elaborate and costly technical and robotic devices may be in seniors' future to monitor their health at home, but simpler an effective devices are already in use to cut health care costs. A recent British study showed that such measures can reduce hospital admissions 20%.

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A later age of retirement is linked to a reduced risk of developing Alzheimer's disease in a French study. People retiring at 65 were found to be 14.6% less likely to ever be diagnosed with the disease, compared with those retiring at 60, a result "in line with the use-it-or-lose-it hypothesis," said researcher Carole Dufouil.

A United Health Foundation report ranked Minnesota as the healthiest state and Mississippi as the unhealthiest for people ages 65 and older. The survey measured 34 health factors, including rates of annual dentist visits, prevalence of drug coverage, premature deaths and mental health days. A foundation adviser said the goal is to help states improve the health of seniors and better target resources.

Boomers and seniors looking to cut costs, and cut them drastically, would be well advised to look beyond U.S. borders. There are a number of countries with excellent services where a couple can live for a year on about what it costs to live for a month in many U.S. cities.

Recovering home values are helping U.S. seniors, whose home-equity levels are at the highest level since mid-2009, according to a report from the National Reverse Mortgage Lenders Association. The group, along with the RiskSpan Reverse Mortgage Market Index, looked at home-equity data for people 62 and older. "Tapping into that equity is one option to help fund living expenses, home maintenance costs or health care needs in retirement," said Peter Bell, the reverse-mortgage group's president.

Americans' affection for their animals continues to fuel a booming pet products industry. Owners are on track to spend $55.5 billion on their furry friends this year. Growing spending on pets has its roots in the 1950s and '60s, when baby boomers became the first generation to routinely grow up with animals kept in the home, experts say. Today, boomers are filling their empty nests with companion animals.